Bidhannagar Civic Body to levy penalty on property tax dues from April 1
09 Feb 2024
2 Min Read
CW Team
Starting from April 1, BMC announced that it would initiate the collection of a 10% penalty and 10% interest on property tax arrears. The calculation would be based on the dues as of March 31 this year. A target of collecting Rs 400 million from property tax in the current financial year, ending on March 31, has been set by the civic body.
The original plan was for the penalty and interest to be payable from October 1 of the previous year, but the civic authorities decided to defer the implementation of this plan. Officials stated that it would be more convenient for the authorities to calculate and apply the penalty and fine on arrears for all four quarters of the year instead of applying the penalty and interest for the first two quarters and then recalculating the arrears for the third and fourth quarters.
Taxpayers have the option to either pay online, generating demand notices through their assessee number, or make payments in cash, cheque, or demand draft at designated bank branches and tax collection offices between 11 am to 3 pm on any working day. Additionally, authorities have been organizing doorstep property tax collection camps for taxpayers in the Rajarhat-Gopalpur area.
Furthermore, authorities are planning to commence the collection of property tax from April 1 for residents of four BMC wards ? 27, 28, 35, and 36 ? encompassing a vast area including Mahisbathan, Nayapatti, and the extensive bheri areas off EM Bypass. These residents, who still pay 'khajna' or land revenue to the local panchayat or BLRO office, will also be able to conduct mutation of properties.
Starting from April 1, BMC announced that it would initiate the collection of a 10% penalty and 10% interest on property tax arrears. The calculation would be based on the dues as of March 31 this year. A target of collecting Rs 400 million from property tax in the current financial year, ending on March 31, has been set by the civic body.
The original plan was for the penalty and interest to be payable from October 1 of the previous year, but the civic authorities decided to defer the implementation of this plan. Officials stated that it would be more convenient for the authorities to calculate and apply the penalty and fine on arrears for all four quarters of the year instead of applying the penalty and interest for the first two quarters and then recalculating the arrears for the third and fourth quarters.
Taxpayers have the option to either pay online, generating demand notices through their assessee number, or make payments in cash, cheque, or demand draft at designated bank branches and tax collection offices between 11 am to 3 pm on any working day. Additionally, authorities have been organizing doorstep property tax collection camps for taxpayers in the Rajarhat-Gopalpur area.
Furthermore, authorities are planning to commence the collection of property tax from April 1 for residents of four BMC wards ? 27, 28, 35, and 36 ? encompassing a vast area including Mahisbathan, Nayapatti, and the extensive bheri areas off EM Bypass. These residents, who still pay 'khajna' or land revenue to the local panchayat or BLRO office, will also be able to conduct mutation of properties.
Next Story
Reliance, Diehl Advance Pact for Precision-Guided Munitions
Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..
Next Story
Modis Navnirman to Migrate to Main Board, Merge Subsidiary
Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..
Next Story
Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025
The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..